The 10 Commandments of Selling Your Home for TOP Dollar
If You Are Breaking One of These 10 Commandments Your Home May Not Be Selling for Its Full Potential
1. Thou Salt Not Market Your Home With Lousy Photos
Over 90% of Realtors do not use professional photography for their listings. There are a surprising amount of bad photos on the MLS. Bad pictures can be the kiss of death when trying to sell a home for its full potential. Make sure you only allow your home to be marketed with photos taken by a professional.
The pictures below are taken from the new listing posted today on the Utah MLS. These are otherwise nice homes with poor quality pictures. Don't let this happen to you.
2. Thou Salt Not Submit Your Home Into The MLS Without Pictures
A surprising number of homes are initially submitted into the MLS without pictures. We have all see the “Images Coming Soon” to newly listed homes for sale. Your home has the most interest when it is just listed but the interest is very limited without the home’s photos. Sometimes the photos do not show up for 3, 4 or more days after the home has been placed for sale on the Realtor’s MLS. Do not allow your home to be put in the local MLS without the photos.
3. Thou Salt Not Do Single Party Listings
It is almost never in your best interest to do a single party listing with a buyer. I have talked with many potential sellers in the past and many have told me that they are not really interested in listing their home for sale on the MLS but if I know of a buyer that is interested that they would be willing to sell. This may be a way to get your home sold but rarely does it bring TOP DOLLAR. Getting top dollar requires your home to be marketed to the most qualified buyers as possible all at the same time. The MLS is the most important marketing tool available to you to help your home sell for the most money possible.
4. Thou Shalt Not Sell Your Home in 1 Day
People really love the idea of selling their home in ONE day. Many agent will advertise the fact that they listed and sold a home in 1, 2 or 3 days. Is this really in the best interest of selling a home for “Top Dollar”? Usually when a home sells in a very sort time period the buyer is able to purchase a home below market value. More days on the market means a little more work for you and your agent but usually results in a higher sales price. The best way to prevent your home from underselling from too few days on the market in a competitive market is to advertise on the MLS that offers will not be reviewed by the seller until a date 3 to 5 days after the initial listing date.
5. Thou Shalt Hire a Professional Showing Service
What is a professional showing service? A professional showing service coordinates all home showings with the buyer’s agent. Let’s face it realtors are often busy and cannot always answer their phone. When a buyer’s agent call to show a home and cannot get ahold of the listing agent it makes showing the home inconvenient and in some cases the showing is never arranged. With a professional showing service calls are never missed and a buyer’s agent can easily set up a showing. The more showings = more interested buyers = more offers = higher offer price
6. Thou Shalt Not Over List or Under List Your Home
Setting the BEST list price for your home cannot be over emphasized. If your home is listed for sale at a price too high or too low based on sound information, chances are your home will have a hard time selling for “Top Dollar”. Homes that are drastically overpriced tend to miss out on the initial excitement a new listing brings to the market and once a home get aged on the market it tends to get a negative stigma that can be hard to overcome. Underpricing a home can produce a very quick sale but usually the home will sell below market value, even with multiple offers. When determining a list price for your home, look at the market data provided by an experienced Realtor objectively.
7. Thou Shalt Not Rely on Zillow
Zillow offers many interesting and fun tools but the information is often outdated and unreliable. Do not rely on Zillow or any other automated home valuation services to determine your home’s value or list price. This is the job of an experienced Realtor with reliable information obtained from your local MLS, the Realtor’s database.
8. Thou Shalt Not List Your Home with a Friend or Relative Who Is Otherwise Unqualified
Selling a home for the most money possible takes the efforts of a full time experienced Realtor. You need an agent that has the right knowledge, tools, strategy and systems in place to make the most out of your home’s potential.
9. Thou Shalt Not Enter Into a Long Term Listing Contract
It is important for your Realtor to feel you are committed to them as your listing agent so they will spend the money and resources to properly market your home. At the same time you should be able to cancel a listing if the listing agent fails to deliver on their promises. In most markets a 90-day listing agreement is appropriate. If you are selling a luxury home a longer commitment may be justified.
10. Thou Shalt Consider Our Services
If you are in Salt Lake or Utah Counties we would love the opportunity to further discuss our real estate services. I have over 15 years experience selling residential real estate and I would love to help you reach your goals. Call Scott Rozier 801-471-9443 at your earliest convenience.